Wall Street's nightmare stock crashed through the opening bell

There is more bad news for SunEdison, the solar-power company
that has seen its stock plummet 92% in the past year.

Bloomberg reported on Wednesday after the market had closed
that the solar utility Hawaiian Electric Co. was canceling
contracts for three projects it had with the company, saying
SunEdison was way behind on construction and missed
deadlines.

From Bloomberg:

The utility cited "SunEdison's apparently precarious
financial condition" in its decision to cancel the project's
power purchase agreements, or PPAs. The projects "had been in
default under the PPAs and had not cured important missed
milestones," according to the filing.

The company's shares are down about 11%.

In its filing, Hawaiian Electric cited concern with
SunEdison's cash position as a reason for terminating the
relationship. Worries about cash are what sent the company's
stock falling in the first place.

These Hawaii projects were a big deal for SunEdison, which had
planned to transfer them to DE Shaw, Madison Dearborn Partners,
and Northwestern University in a deal to forgive $336 million of
debt the company owes to those institutions.